W3 property at record level according to Land Registry

The average price of a property in Acton in the third quarter of 2010 was £366,343 according to figures from the Land Registry. This is the highest quarterly average on record for the W3 area.

Terrace houses are now changing hands for an average £487,881 that's an increase of nearly 15% in the last year. Semi detached houses are selling for £679,730 - 43% higher than last year.

There have been more flat sales from July to September (107) but they are down in price terms by 5%

Overall the volume of sales is up with 162 properties changing hands in the last quarter - compared to 129 from April - July.

UK house prices are down overall but buyers are traditionally reluctant to part with their money in the lead-up to Christmas.

According to the Rightmove House Price Index new sellers cut their asking prices by 3.2% in November – the largest decline seen since December 2007. The index said there was now an "unseasonably high number" of unsold properties on the market amid a dearth of first-time buyers and buy-to-let investors.

In London prices were down by just 0.4% in November and remain 3.5% higher than a year ago, compared with the national average of 1.3%. Miles Shipside from Rightmove said : "London's limited property supply and domestic as well as international demand are helping to insulate its property prices from some of the downward pressures being experienced elsewhere in the country

The latest reported sales are given in the table below.

A regular market review of the local property scene appears on the site. You can click here for the latest update and analysis.

If your agent is claiming to be marketing your property effectively and it doesn't appear on ActonW3.com it may be time to choose a new agent.

Properties Sold in Acton W3 - September 2010

Previous Property Sales in Acton

January 19, 2011